John Riccitiello, CEO of Unity, the company whose 3D game engine had recently seen backlash from developers over proposed fee structures, will retire as CEO, president, and board chairman at the company, according to a press release issued late on a Monday afternoon, one many observe as a holiday.

    • MajorHavoc@lemmy.world
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      1 year ago

      Employees should be automatic shareholders. Ought to be a workers right by default to receive some portion of the equity they’re producing.

      Edit: And to be clear, shareholders win too. More companies should voluntarily structure themselves to grant shareholder rights to employees. Dumbass company ending mistakes are usually seen a long way off by line and rank employees.

      But it should also be legally mandated structure, much like 401k rules exist now. I propose that all players involved are better off with such a rule, other than the (not currently rare) asshole CEOs who only want to pump and dump their stock.

      • cyd@lemmy.world
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        1 year ago

        It’s actually pretty common to provide employees with stock options. But depending on the situation, it can be a better deal for the company than the employees. For the company, equity is a relatively cheap way to “motivate” employees. For the employees, it goes against the principle of portfolio diversification: if the company does badly, not only is their regular income threatened, but so are their assets.

      • zib@kbin.social
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        1 year ago

        Unity employees are shareholders, but greatly in the minority compared to the executives. The C-suite is routinely granted thousands of shares while the lowly employees are given a few hundred RSUs every year, which vest over a period of 4 years. It’s kinda bullshit how little equity employees by comparison, but definitely by design.

      • locuester
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        1 year ago

        They receive money which can be used to buy equity, no? It’s their choice not to. At least in a publicly traded company.

        That point aside, I usually do receive stock in the company at jobs I’ve worked. Financial firms.

    • ringwraithfish@kbin.social
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      1 year ago

      Yes, I understand that’s the current structure. I’m saying there needs to be a new structure where CEOs can’t make greedy decisions with impunity. Clearly the idea that the board is supposed to prevent that doesn’t work because this story is all too common.